As we’ve mentioned in an earlier blog, where you decide to put down roots is one of the most momentous decisions you can take as a business. So it pays to give it sufficient consideration and to find a flexible business unit to rent.
The first blog covered the physical and tangible factors which influence where you choose to situate your business.
In the second of our three part blog on choosing a flexible business space, we’ll now take a look at the ongoing considerations: specifically those that impact on your running costs.
These encompass the business rates and other running costs like your utilities (electricity, gas, water etc), but don’t forget other aspects particular to a location (like congestion charges and car parking charges). Some landlords directly charge business rates together with the unit rental, with others, the business rates are separate.
There are many more potential running costs dependent upon the unit you may be interested in, but those are the main ones to ponder. Look carefully at ones which have variable costs, such as for phone calls or photocopying – make sure the fees are fair and transparent.
Last but by no means least (in terms of the factors affecting your decision) are the legal considerations. Ignore or skim over at your peril! What is the length of contract term? Are there any break clauses? You need to be sure that you are not tied in for years without any option to cancel or move.
Any business owner needs to ensure that the business you are renting is suitable for your business, not just today but also for tomorrow. For instance one possible disadvantage might be whether there are any restrictions for access, particularly for members of the public.
Or, for example, if you are running a workshop, are there parts of your work which are not fully covered by the terms of the contract or insurance. You need to be sure that if an accident happens, it is fully covered.
Are additional licences required based on the nature of your work? For instance whether materials you have on site are considered hazardous. Are you able to subcontract, or do you have cover for freelance or contract workers.
Naturally, fire and health & safety flow from this, as well as whether the premises are suitable for all staff, for instance if any disabilities need to be catered for.
The site needs to suit you and your customers,not just today, but far into the future, so beware of tying yourself too firmly to a contract which lasts longer than it needs to.
Most business leases are for 2-3 years with various break clauses, usually at an annual basis. These days, increasing numbers of property companies (Flexspace included) favour auto renew – essentially a rolling contract which relies on the tenant canceling. This provides both flexibility and longevity for both parties.
But look out for contracts which run for years, they can seem really attractive, but what if your business shuts or grows. What seemed like a good deal last year may seem like shackles to you today.
Those, in a nutshell, are some of the key on-going considerations when looking and assessing your new or first business premises.
Of course, you could always save a lot of legwork by coming to the experts – Flexspace, and let us do all the hard work. We have a range of business premises across the country close to major arterial connections, together with some very favourable terms (up to 3 months free for some localities).
Many of our sites have additional amenities like on-site cafes etc. So next time you are reviewing your next location, consider contacting Flexspace. We’ll try to make you an offer you can’t refuse!
Flexspace: Managed workspace for the modern business.
Call 0800 033 4444 or complete the form today!
You can rent a Flexspace unit for a minimum of 12 months all the way up to 10 years or more.
Most sites have different unit sizes, so you can move and grow with Flexspace. Choose workspace on your terms.
Most of our units are so flexible that you can shape the space to be precisely as you want it to be.
From Cafes to Gyms, Galleries to Labs, we’ve seen and done it all. Choose space to fit your needs.
Flexspace have helped me turn my little dream into a profitable reality! Being a small business owner looking for premises can sometimes be daunting but Loraine and the Flexspace team helped me with every step in finding the perfect solution for my business and I couldn’t be more grateful.
The team go above and beyond to look after their tenants and nothing is every too much trouble. Premises are clean, well maintained and I always feel extremely safe when I’m at work even on those dark winter nights! I have highly recommended Flexspace to fellow business owners – a hidden gem in Peterborough!
Our offices in Blackpool are easily accessible for the people we support, some of whom are in wheelchairs, there is a ramp to the entrance door and disabled facilities. Our offices are nicely decorated, comfortable and affordable.
Our Area Manager is very helpful and readily available should we have any queries or problems. The public areas are kept clean, safe and presentable. She goes over and above the call of duty for the clients.
I have enjoyed renting from Flexspace for the last 3 years and hopefully will be there for a good few years to come. Found the staff very helpful and easy to get on with.
Excellent service, the Centre team are happy to assist with meeting rooms at short notice. They ensure that repairs are carried out quickly. I needed several new sockets in my room and these were provided very quickly with no inconvenience to myself.
The staff are friendly, professional and knowledgeable and nothing is ever a problem.
Flexspace Dunfermline has had a big impact on the growth of my business over the last 3 years. Offering the ability to offer in-house training to clients with the use of the meeting room facilities. The team always ensure that the rooms are set up to the exact requirements I need to deliver the training to my clients. From equipment set up to the supply of refreshments to my delegates.
Having a dedicated team onsite that are always on hand to assist with anything from reception to administration is a real benefit to my business. The staff are always very approachable and nothing is ever too much for them when I ask for their assistance.
RDM Group has occupied buildings on the Bilton Industrial Estate for over 22 years and we have seen many owners in our time. In 2007 ‘Flexspace’ acquired the estate and through their resident manager, we have seen a dramatic improvement in the overall operation of the estate together with a continual investment and improvement program into the buildings, security and facilities which makes the estate an extremely good place for our company to be located.
Big thanks to you and Alan for your efficient handling of the whole process.
Many thanks for your support in our move into new office space, everything has been really smooth and easy even down to ensuring locks were changed and secure.
The facilities are excellent and spotlessly clean throughout and it’s so helpful for us to have access to additional rooms for booking for training events when we need it. We are so glad we made the move into a really pleasant and well maintained working environment.